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BlackRock’s iShares Ethereum Trust Exceeds $1 Billion in Net Inflows
Discover how BlackRock’s iShares Ethereum Trust has surpassed $1 billion in net inflows, marking a significant milestone in the cryptocurrency investment landscape. Learn about the implications for investors and the growing interest in Ethereum.
BlackRock’s iShares Ethereum Trust Surpasses $1 Billion in Net Inflows
In a significant milestone for cryptocurrency investment products, BlackRock’s iShares Ethereum Trust (ETHA) has become the first in a group of 11 competing issuers to cross the impressive threshold of $1 billion in net inflows. This noteworthy achievement was reported on Tuesday, showcasing the growing interest in spot ether exchange-traded funds (ETFs).
Currently, ETHA manages over $860 million in net assets, placing it just behind Grayscale’s mini ether trust (ETH) and Grayscale’s Ethereum Trust (ETHE). Notably, the net inflows for ETHA have outpaced the combined total of the next three highest-performing ETFs, according to data from SoSoValue.
- Fidelity’s FETH has attracted a total of $367 million since its launch on July 23.
- Bitwise’s ETHW has seen inflows of $310 million.
- Grayscale’s ETH has garnered $227 million.
In stark contrast, other ETFs in the market have recorded net inflows of less than $60 million. Grayscale’s ETHE, which transitioned from an institutional-only trust product, has experienced significant outflows, losing $2.7 billion since its inception.
When comparing performance, the various Ethereum ETFs have struggled against their Bitcoin counterparts, with a cumulative net outflow exceeding $440 million. This is particularly striking when contrasted with the initial month of spot Bitcoin ETFs, which experienced daily net inflows averaging around $125 million, ultimately accumulating over $11 billion in Bitcoin (excluding outflows from Grayscale’s trust-converted GBTC).
Remarkably, BlackRock’s Bitcoin fund has also achieved recognition, ranking among the top five ETFs across all categories, including non-crypto funds, based on inflows in 2024. This positions it alongside major indexing leaders such as the iShares Core S&P 500 ETF (IVV) and the Vanguard S&P 500 ETF (VOO), highlighting the growing traction of crypto investment vehicles in the broader financial landscape.